2024-08-27
The Brazil Heavy Trailers sector continues its upward trend in registration, with a 5.6% increase in sales during the first seven months of the year, compared to the same period in 2023.
According to data from the National Association of Road Implements Manufacturers (Anfir), 89,880 units were registered between January and July.
Iseki will produce 90% of its products for overseas markets, mainly Europe and the United States, in Indonesia by 2030. The company will gradually transfer the production of tractors and other products for overseas markets that have been handled domestically and will use the consolidation of production as an opportunity to review product design.
In Japan, the market for agricultural machinery is shrinking, and it is difficult to secure human resources. The company will strengthen the position of its production base in Indonesia to expand its overseas business, particularly in Europe and the United States.
The production capacity of the local plant increased to 22,000 units in 2023, a 20% increase over the previous capacity. At present, the production transfer is about 60% complete.
Hyundai Motor has begun the initial public offering (IPO) process for its Indian subsidiary to further develop the company. The IPO is expected to raise $3 billion, making it the largest IPO ever in India. Over the past 20 years, Hyundai Motor has exported 3.6 million Indian-made passenger cars to more than 150 countries, including emerging markets, making it the largest exporter among India-based automakers. India is now Hyundai Motor’s second largest market after North America, surpassing its home market of South Korea.
Indonesia is trying to reduce Chinese investment in new nickel mining and smelting operations in order to qualify for U.S. tax incentives. Under the Biden administration’s Inflation-Reduction Act (IRA), large tax incentives will apply after 2025. However, it does not apply to batteries sourced from “foreign entities of concern,” such as companies in which Chinese capital holds more than 25% of the shares, or to EVs that use nickel or other key minerals. Indonesia’s nickel industry will be hit hard by these conditions. This is because the country has been the world’s largest producer of nickel for the past four years, thanks to a large influx of Chinese capital into its mining and smelting operations.
According to three people familiar with the matter, the Indonesian government and the nickel industry are working on new investment projects in which Chinese companies will have a smaller stake. It is possible that the nickel supplied through these deals will be eligible for tax benefits under the IRA. However, in order for the Indonesian nickel industry to receive tax benefits, it will also need to negotiate a trade agreement with the United States. The Indonesian side is proposing an agreement limited to critical minerals.
2024-08-02
Jet Drive Boats are boats propelled by a jet of water ejected from the back of the craft; they have no propeller and can maneuver in shallow water. PWCs are also driven by jet water and come in several styles: Stand-Ups or Sit-Downs. They are often referred to as jet skis. Sit Downs are designed for one, two or three persons in a sitting position, one in front of the other. PWC Stand-Ups are designed for one rider standing or kneeling on the watercraft.
On-Road Motorcycles or Street Bikes are motorized two-wheeled vehicles that are street legal for sport and leisure activities. They include features such as headlights, brake lights and turn signals.
2024-07-15
The Canadian government is preparing tariffs on Chinese-made EVs to align with the US and European Union, which have already proposed heavy duties to deter “unfair” competition imported from overseas
The country holds strong ties with the US and EU and looks to align with its trade partners in solidarity while blocking a potential loophole China could use to enter North America.
Source: Electrek: Read The Article
PSR Analysis: Canada is still in the early stages of these tariffs, with discussion ongoing. Prime Minister Trudeau has not publicly committed Canada to imposing tariffs on Chinese EVs, stating the cabinet is monitoring the situation closely. PSR
Guy Youngs is Forecast & Adoption Lead at Power Systems Research
The European Commission told automakers (July 11, 2024) it would impose extra duties of up to 38.1% on imported Chinese electric cars starting in July 2024, risking retaliation from Beijing, which called the move protectionist. Less than a month after Washington announced plans to quadruple duties for Chinese EVs to 100%, Brussels said it would set additional tariffs ranging from 17.4% for BYD to 38.1% for SAIC, on top of the standard 10% car duty. It said this was to combat excessive subsidies
it’s worth noting that commercial EV sales are soaring. PSR
Source: Reuters (via MSN): Read The Article
PSR Analysis: On the face of it, this seems like the start of a trade war with Chinese automakers demanding retaliatory tariffs on European cars, however several EU member states have already started to back track (led by Germany) so it remains to be seen as to what the eventual outcome will be.
Guy Youngs is Forecast & Adoption Lead at Power Systems Research
In 2024, medium and heavy commercial vehicle production in Europe, South Asia and North America is expected to decline modestly while production in China, South America, Japan and Korea is expected to improve over last year.
Globally, medium and heavy commercial vehicle production is expected to decline by 1.6% this year over 2023. Moving into 2024, much of the focus on demand is centered around slowing global economic conditions that will likely impact overall freight demand.
North America. Medium and heavy commercial vehicle production is expected to decline by 4.3% this year over 2023 after strong class 8 truck production last year was driven by on-going pent-up demand. While class 8 demand is expected to decline this year, it will still be at a relatively high level, especially during the first part of the year.
The global motorcycles market size is estimated to be valued at $144.1 billion in 2024 and is estimated to rise at a compound annual growth rate (CAGR) of 8.1% from 2024 to 2033 and to be valued at $288.46 billion in 2033, according to research by Power Systems Research (PSR).
The unit sales of Motorcycles market are expected to reach 61.62 million by 2029 according to PSR. In the United States, the trend in the motorcycle market is shifting towards electric bikes, as consumers become more environmentally conscious.
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